The short-read sequencing market is experiencing significant growth and is projected to be valued at USD 6,322.03 million in 2023, with a remarkable compound annual growth rate (CAGR) of 18.46% expected to propel the market to USD 34,401.22 million by 2033.
Short-read sequencing technologies, which enable high-throughput sequencing of DNA or RNA fragments, have become increasingly important in clinical diagnostics, personalized medicine, drug discovery, and agriculture. These technologies allow for the production of millions or billions of short DNA or RNA reads, typically ranging from 50 to 300 base pairs. The demand for genomic analysis, particularly in cancer therapeutics, has been a key driver of the market’s rapid expansion. Short-read sequencing has proven to be a vital tool for companion diagnostics, enabling the quick detection of genetic abnormalities.
The flexibility of short-read platforms, which can measure multiple biomarkers and map genomic sequences in a single test, makes them ideal for targeted therapies and precision medicine. The market is further supported by continuous technological advancements, including the development of high-throughput sequencing platforms and the growing integration of cloud computing and big data analytics.
Key Market Insights:
- Services Segment: The services segment is expected to experience the fastest growth in the short-read sequencing market, with a projected CAGR of 21.96% between 2023 and 2030. A diverse range of next-generation short-read sequencing services offered by leading market players is driving this expansion.
- North America: The region is set to dominate the global short-read sequencing market, accounting for 49.77% of the market share. This is largely due to high cancer prevalence, a supportive regulatory environment, and the region’s advanced healthcare infrastructure.
- Sequencing Segment: The sequencing segment held a significant market share of 56.64% in 2022. The growing competition in this area has led to the introduction of novel and portable platforms that facilitate more efficient DNA sequencing.
- Academic & Research Institutes: This segment accounted for 48.67% of the market share in 2022, driven by increased investment in research infrastructure and a surge in healthcare facility development, positioning academic institutions as major contributors to market growth.
- China’s Market Growth: China is expected to experience a CAGR of 9.3% between 2023 and 2033. The country’s expanding capacity and regional players’ increasing presence in the global short-read sequencing industry position it as a rising competitor to Western markets.
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Competitive Landscape:
As the demand for short-read sequencing continues to rise, key players in the industry are capitalizing on market opportunities through strategic mergers, acquisitions, and collaborations. Notable recent developments include:
- Roche’s Acquisition of Stratos Genomics: In May 2020, F. Hoffman La Roche Ltd. acquired Stratos Genomics, an early-stage sequencing technology company, to advance the development of its nanopore sequencer.
- Agilent Technologies’ New DNA Kit: In January 2020, Agilent Technologies launched the SureSelect XT HS2 DNA Kit, designed to address key challenges in DNA sequencing library preparation, offering a comprehensive solution for researchers.
Key Market Players:
Leading companies in the short-read sequencing market include Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., BGI, QIAGEN, Agilent Technologies, PerkinElmer, Inc., ProPhase Labs, Inc. (Nebula Genomics), Psomagen, and Azenta US, Inc. (GENEWIZ).
As the short-read sequencing market continues to expand, the increasing adoption of these technologies across various sectors, combined with ongoing advancements, positions the market for substantial growth over the next decade.
Key Segments Covered in the Short-Read Sequencing Market Report:
Product Outlook:
- Instruments
- Consumables
- Services
Workflow Outlook:
- Pre-Sequencing
- Sequencing
- Data Analysis
Application Outlook:
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- DNA-based
- RNA-based
- Others
End-use Outlook:
- Academic & Research Institutes
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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